Wednesday, August 10, 2011

Capitalism declares, 'tis but a flesh wound'

After losing their precious triple A rated credit, the US market fell over, fell over again, fell over gain, made a brief rally and then fell over again. Apparently corporate greed and hyper consumerism isn't actually economically sustainable, who woulda thunk it?

Whanau, I've pointed out since the collapse of 2008 that we were heading towards a double dip recession and that this was a crises OF capitalism in the same way that the 1929 stock market collapse was a crises OF capitalism and that all this talk that we were through the worst of the recession was as vacant as John Key's optimism, just this week the oracles of the rich were declaring that next year NZ would only have 5% unemployment.

Really? These oracles of the rich promising us butterflies and rainbows are like a dealer trying to sell you your next hit of consumer confidence so you won't feel as poor as you actually are.

Sadly the mainstream media are never allowed to mention the word Capitalism as news producers believe the mere mention is too intellectually challenging to their audience and will have them all immediately flicking over to the E channel, so there can't be any discussion about the impending collapse of the system they have such a vested interest in meaning ANY suggestion that the growth uber alles mentality of consumer capitalism is simply not sustainable and that we need to tax rich people more is met with the sort of response that admitting you enjoy sex with animals does at Ponsonby dinner parties.

3 Comments:

It is not so much capitalism that is the problem if it was practised properly. i.e. If you make a bad bet, you should lose your money, you should not get bailed out by the very people you ripped off. What we have currently is known as "crony capitalism". This should not be confused with standard capitalism, which I think has (admittedly arguably) greatly benefited humans in general, before slowly devolving to cronyism over the last 30 years or so (basically since Ronald Reagan).

"Trickle down" is aleftist fabrication and has never been advocated as part of Free Market economics...fail Bomber ,try again.

Capitalism can't be the problem because it isn't being practised and hasn't been in living memory in NZ or the US.Simple test:Is the state neck deep in the economy? Yes? Then real capitalism is absent and its mixed economy cronyism that you in fact have. Do learn something please.

James, after you race hate post regarding Maori, it doesn't surprise me you are a wide eyed free market acolyte. Your Milton Friedman dogma may work in the echo chambers you post on, but they don't really work here champ - http://tumeke.blogspot.com/2010/02/great-recession-vs-great-depression.html